Table 17-7

question 314

Multiple Choice

Table 17-7. The table shows the demand schedule for a particular product.

-Refer to Table 17-7.If this market is perfectly competitive and the marginal cost is constant at $2 per unit,then how much output will be produced?

• A) 20
• B) 30
• C) 35
• D) 40

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Definitions:

Retained Earnings

The portion of a company's profits not distributed as dividends to shareholders, but rather reinvested in the business or held as reserves.

Plant Expansion

The process of enlarging a company's physical facilities or increasing its production capacity.

Dividend Declarations

Official announcements by a company's board of directors to pay dividends to shareholders, specifying the dividend amount, record date, and payment date.

Retained Earnings

Profits that a company keeps or retains after paying out dividends to shareholders, used to reinvest in the business or pay down debt.